Futures signal Nov. rate hike, but then possible pause

RachelKoning

CHICAGO (CBS.MW) -- In the wake of Friday's jobs report, short-term interest-rate hedgers remain confident the Federal Reserve will raise interest rates by a quarter point next month, but have pared back expectations for rate hikes after the Nov. 10 policy meeting. The November fed funds futures contract indicates the market sees about a 90 percent chance the Fed raises its current 1.75 percent target to 2.00 percent next month. The futures market now sees a slimmer 22 percent chance that move is followed up by a like-size adjustment in December. The odds for a quarter-point hike in February are also seen lower, standing at 44 percent.

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